Zydus Wellness, ever since it made the All Time High, the stock was in a downtrend and then sideways for more than a year. Though it tried to breakout a key resistance level (as marked) multiple times, it could not breach the resistance zone. Today, it brokeout of the resistance zone with huge volume burst. The next few days of the stock moves in a positive direction, then it may reach 2335 levels which could be the first target.
Checking the weekly timeframe, we can see an inverted H&S pattern and without today's breakout, the stock has broken out of the H&S neckline. If we consider H&S pattern breakout, then the stock may reach new ATHs.
Checking the weekly timeframe, we can see an inverted H&S pattern and without today's breakout, the stock has broken out of the H&S neckline. If we consider H&S pattern breakout, then the stock may reach new ATHs.
Disclaimer: This analysis is my personal view & for educational purposes only. They shall not be construed as trade or investment advice. Before making any financial decision, it is imperative that you consult with a qualified financial professional.
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Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Disclaimer: This analysis is my personal view & for educational purposes only. They shall not be construed as trade or investment advice. Before making any financial decision, it is imperative that you consult with a qualified financial professional.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.